THE IEC ADMITS IN THE CONSENT DECREE THAT IT FAILED TO PRODUCE DOCUMENTS TO THE ANTITRUST AUTHORITY AS REQUIRED

IEC WILL PAY 3 MILLION NIS FOR ITS ACTIONS

The Israel Antitrust Authority ("IAA") reached a consent decree today (Wednesday) with the Israel Electric Corporation ("IEC"). The IEC admits in the consent decree that it retrospectively realized that it had failed to produce documents to the IAA, in response to the initial data requests it received. The data requests were received during an inquiry conducted by the IAA about a year ago concerning the IEC’s abuse of its dominant position.

The inquiry conducted by the IAA about a year ago examined the Israel Electric Corporation’s abuse of its dominant position by denying service to customers that switched to consuming electricity from private electricity producers. The proceeding ended with the decision to impose financial sanctions on the IEC at the sum of 13 million NIS, and to impose personal sanctions on two senior officers of the IEC at sums ranging from 110,000 NIS to 165,000 NIS. During a follow-up on the inquiry, it became evident that the IEC had not produced all of the documents that it had been required to according to the data requests that were sent to it and, as a result, the IEC must pay the sum of 3 million NIS, which was mutually agreed upon in the decree.

The wording of the consent decree is open to the public. Any person who is liable to be adversely affected by the consent decree, and any consumer organization or business association, is invited to present its arguments regarding the order to the Antitrust Commissioner.